Second Life
I've been skeptical of the value of Second Life - as both a type of social network and more particularly as a campaign resource - for quite a while. It's never struck me as a place that is highly populated by a desirable audience that isn't reachable as part of another, larger (or niche) audience. And I've never seen the real value in it as anything other than a novelty.
Social Web guru Clay Shirky is putting stats to that claim. Any campaign interested in pursuing a Second Life strategy should read his recent article dissecting the hype that surrounds Second Life.
If we think of a user as someone who has returned to a site after trying it once, I doubt that the number of simultaneous Second Life users breaks 10,000 regularly. If we raise the bar to people who come back for a second month, I wonder if the site breaks 10,000 simultaneous return visitors outside highly promoted events.
Second Life may be wrought by its more active users into something good, but right now the deck is stacked against it, because the perceptions of great user growth and great value from scarcity are mutually reinforcing but built on sand. Were the press to shift to reporting Recently Logged In as their best approximation of the population, the number of reported users would shrink by an order of magnitude; were they to adopt industry-standard unique users reporting (assuming they could get those numbers), the reported population would probably drop by two orders. If the growth isn't as currently advertised (and it isn't), then the value from scarcity is overstated, and if the value of scarcity is overstated, at least one of the engines of growth will cool down.
If campaigns really want to get into this game, I'd suggest they figure out a way to into the other MMORPGs like World of Warcraft. The number of real users is astronomically higher, the bonds between users are knit into tighter communities, and there's probably a lot more fertile ground to be tilled.
2008 Youth Vote in Context
The following charts and graphs are meant to contextualize the unique role that young voters played in the 2008 election, and their increasingly important role in a winning electoral coalition:
2008 Youth Electoral Map

2004 Youth Electoral Map

Youth Vote Partisan Advantage: 2000 - 2008

Youth Vote Historical Support: 1976 - 2008

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second life
I see three problems with 2nd life.
For all the whistles and bells, 3-d animation etc- 2nd-life doesn't have a hell of a lot more functionality than an AIM chatroom. In fact, the extra stuff seems to be more distracting than anything else.
Crisp Video-game graphics means cutting edge technology. Right now, most computers don't have the technical capabilities to even run 2nd life- which makes it a piss poor organizing tool, esp considering you're already excluding most people in the country by using an online technology in the first place.
It's always seemed obvious to me that 2nd life is an attempt to exploit a medium that gamers feel more comfortable with. Gen Xers are the generation of the video game, and most of the people I hear touting 2nd life's praise are 30+.
For people who aren't considered "big gamers," negotiating 2nd life feels awkward and foolish. Whyy do they want to make me feel awkward and foolish?
That's my .02- This is definitely not a tactic to reach millennials. It might be suitable for reaching awkward, balding, upper-class middle-aged white men, though.
Better Public Forums exist
I agree, Mark.
I cross-posted this over at MyDD, and it was suggested that Mark Warner's event in Second Life was valuable not becuase of those who attended, but because of the buzz it generated among those who heard about it.
While there's always value in creating buzz, if its just empty hype, people will see through it or it will only get you so far.
The real promise of Second Life is that it offers another public space with which to engage people, but at this point - for all the reasons you discuss - it just doesn't make sense for most people and there are better online forums that exist.
If I hold an event in Second Life, I'm constricted by many of the limits of "physical communication" - time, place, etc. - without the benefits (non-verbal cues, personal connection/intimacy of relationship, etc.).
But if I just hold a live-blogging session on Kos, people get just as much as they would from Second Life, but I also get the luxury of going back through comments, following up with posters and making a more personal connection. I could create a video or podcast addressing some items that i didn't have time to fully explain . . . there are better ways to create connections and forge public spaces online at the moment.
The only viable reason to go to Second Life would be to tap the SEcond Life community. But as Shirky points out, there really isn't that much off a community . . . a candidate is better off on MySpace, FaceBook, or a niche social network. Or even a space like World of Warcraft that does have the communities and sheer numbers to make the effort worthwhile.